MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Zevin Asset Management LLC

Zevin Asset Management LLC lessened its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 2.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,763 shares of the company’s stock after selling 460 shares during the quarter. MercadoLibre comprises approximately 5.3% of Zevin Asset Management LLC’s investment portfolio, making the stock its biggest holding. Zevin Asset Management LLC’s holdings in MercadoLibre were worth $34,396,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. increased its position in MercadoLibre by 1,600.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after acquiring an additional 16 shares in the last quarter. Optimum Investment Advisors boosted its stake in shares of MercadoLibre by 750.0% in the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after purchasing an additional 15 shares during the last quarter. Financial Connections Group Inc. bought a new position in shares of MercadoLibre in the 2nd quarter valued at about $36,000. Quarry LP bought a new position in shares of MercadoLibre in the 2nd quarter valued at about $43,000. Finally, NBC Securities Inc. boosted its stake in shares of MercadoLibre by 35.0% in the 3rd quarter. NBC Securities Inc. now owns 27 shares of the company’s stock valued at $55,000 after purchasing an additional 7 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MELI. Raymond James initiated coverage on shares of MercadoLibre in a research note on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 target price on the stock. Susquehanna lifted their price objective on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research note on Wednesday, August 28th. The Goldman Sachs Group lifted their price objective on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. BTIG Research reduced their price objective on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Finally, Bank of America lifted their price objective on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $2,269.67.

MercadoLibre Price Performance

Shares of MELI opened at $1,880.00 on Monday. The company has a market cap of $95.32 billion, a price-to-earnings ratio of 66.34, a PEG ratio of 1.27 and a beta of 1.61. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,161.73. The company’s fifty day simple moving average is $2,037.61 and its 200 day simple moving average is $1,846.37. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

MercadoLibre Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.